Helia Group CEO Steps Down as CFO Takes Interim Helm Amid Industry Shifts

Leadership Transition at Helia Group

Helia Group Limited (ASX, HLI), a key player in Australia’s lenders mortgage insurance sector, has announced a significant leadership change. After more than five years at the helm, CEO and Managing Director Pauline Blight-Johnston will step down from her role effective 1 July 2025. This move comes as the company navigates a changing industry landscape and evolving customer portfolio.

Blight-Johnston’s tenure has been marked by strong performance, with Helia delivering total shareholder returns of 282%, substantially outperforming the S&P/ASX200 Financials Ex-A-REIT index and the broader market. Her leadership has been credited with driving business growth and enhancing customer and employee outcomes during a period of considerable change in the lenders mortgage insurance industry.

Interim Leadership and Strategic Implications

Stepping into the CEO role on an interim basis is Michael Cant, Helia’s current Chief Financial Officer. Cant brings over 30 years of experience across financial services, wealth management, and banking sectors, and has served as Helia’s CFO for the past four years. His appointment is set for a 12-month period, during which he will work closely with Blight-Johnston to ensure a smooth transition.

Craig Ward, the company’s Head of Finance, will assume the interim CFO position during this time. The board’s decision to promote from within suggests a desire for continuity amid external uncertainties affecting the lenders mortgage insurance market.

Context Behind the Change

The announcement cites recent shifts in the industry outlook and Helia’s customer portfolio as key factors prompting a reassessment of the CEO role’s scope. While details remain sparse, these changes likely reflect broader market dynamics, including regulatory adjustments and evolving risk profiles in mortgage lending.

Helia’s Chair, Leona Murphy, expressed gratitude for Blight-Johnston’s leadership and highlighted her role in steering the company through a transformative period. Blight-Johnston herself acknowledged the privilege of leading Helia and expressed confidence in the company’s future as it adapts to its new environment.

Employment Terms and Forward Outlook

Details of Michael Cant’s interim CEO contract reveal a fixed remuneration of $825,000 per annum, with performance incentives aligned to his new responsibilities. The agreement includes standard termination provisions and restrictive covenants, underscoring the company’s intent to maintain stability during this transitional phase.

Investors and market watchers will be keen to see how this leadership shift influences Helia’s strategic direction and operational priorities, especially as the company confronts the challenges and opportunities presented by the evolving mortgage insurance landscape.